The Warren Buffett CEO
Book

The Warren Buffett CEO

Secrets From The Berkshire Hathaway Managers

Robert P. Miles
Wiley, 2002
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Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

Robert Miles knows Warren Buffett, and it’s clear that he also knows a thing or two about the people who run the companies in Buffett’s Berkshire Hathaway. Armed with information gleaned from eight months of intensive interviews, Miles uncovers what makes a Berkshire manager tick, and covers the workings of Berkshire, itself, as well. Writing through the voices of the CEOs he portrays, Miles skillfully weaves the colorful histories of 18 firms into a revealing set of success stories. Many tales are similar - the CEOs love their companies; they worked hard to build solid businesses and no one regrets selling his firm to Berkshire. They all sound genuinely happier than you might possibly believe, and each chapter has business models you shouldn’t miss. getAbstract.com invites any executive to enter these pages for an insider’s view (still, it doesn’t hurt to remember, they all knew Warren was gonna read it).

Summary

Warren Buffett and Berkshire Hathaway

Business guru Warren Buffett created the Berkshire Hathaway holding company. The conglomerate’s success is credited in large part to the Berkshire managers, the CEOs of the individual companies that make up Berkshire Hathaway. The holding company owns major interests in many firms (i.e., it is the largest holder of Coca-Cola stock), but Buffett’s goal is acquiring wholly owned companies. He believes - and has been proven right - that owning an entire company is a better investment than owning part of one. Berkshire’s business model is simple: purchase solid businesses run by high quality CEOs who have sound value systems and work ethics. Each company’s management must be part of the package. With that philosophy, Buffett completely trusts the managers and allows them to run their firms with very little interference from the parent company. As a result, many of the managers haven’t met each other, and most have very little contact with Buffett himself.

The Berkshire Managers

Although they are from very different industries, the Berkshire managers have a great deal in common. First, they are all extremely happy working ...

About the Author

Robert P. Miles, a resident of Tampa, Florida, is a long-time Berkshire Hathaway shareholder and author of 101 Reasons to Own the World’s Greatest Investment: Warren Buffett’s Berkshire Hathaway. Warren Buffett has read and praised Miles’ works.

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